Assenagon Asset Management S.A. Sells 10,731 Shares of Tapestry, Inc. (NYSE:TPR)

Assenagon Asset Management S.A. lessened its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 9.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 105,187 shares of the luxury accessories retailer’s stock after selling 10,731 shares during the period. Assenagon Asset Management S.A.’s holdings in Tapestry were worth $6,872,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Envestnet Asset Management Inc. grew its holdings in shares of Tapestry by 14.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 512,739 shares of the luxury accessories retailer’s stock valued at $21,940,000 after purchasing an additional 62,802 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Tapestry by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,551,778 shares of the luxury accessories retailer’s stock valued at $151,965,000 after purchasing an additional 165,406 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in shares of Tapestry by 12.5% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 27,397 shares of the luxury accessories retailer’s stock valued at $1,172,000 after purchasing an additional 3,045 shares during the period. Amalgamated Bank lifted its stake in Tapestry by 6.4% in the second quarter. Amalgamated Bank now owns 74,490 shares of the luxury accessories retailer’s stock valued at $3,187,000 after buying an additional 4,463 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of Tapestry by 6.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 33,373 shares of the luxury accessories retailer’s stock valued at $1,428,000 after purchasing an additional 1,980 shares during the period. Institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

TPR has been the topic of a number of research reports. Daiwa America raised Tapestry to a “hold” rating in a research note on Monday, November 18th. Citigroup lifted their price objective on shares of Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a report on Friday, October 25th. Telsey Advisory Group raised their price target on shares of Tapestry from $58.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Wells Fargo & Company boosted their price objective on Tapestry from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Robert W. Baird raised their target price on Tapestry from $58.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Tapestry presently has a consensus rating of “Moderate Buy” and an average target price of $64.76.

Insider Buying and Selling at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.96, for a total transaction of $514,221.12. Following the completion of the transaction, the vice president now owns 35,003 shares of the company’s stock, valued at $2,028,773.88. The trade was a 20.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.18% of the stock is owned by corporate insiders.

Tapestry Price Performance

TPR opened at $71.48 on Monday. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $72.09. The firm has a 50-day moving average of $62.86 and a 200 day moving average of $49.99. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.38 and a current ratio of 4.93. The firm has a market cap of $16.66 billion, a P/E ratio of 20.66, a PEG ratio of 1.91 and a beta of 1.58.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 6th were issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.96%. Tapestry’s dividend payout ratio (DPR) is presently 40.46%.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.